. Elektrische Eisenbahn Zeitschrift . 1911 1913 015 1903 BOS 1907 1909JAHRESBERICHT DES STAATES ARNOLD BAY RECORDOF TIE REPLACEMENT O ■ac O k J HJ V.f 1 ^^Tota/QpeExpensesTaxes nclua ing ■SI ^ r - 1 ■ i V (1 30 25 20 30 25 .- ?0 .2 15 ml ^ b Stand1 9 – Vaarauiy- Persons Run Donn. Juli. JAN.1913 1914 1315 1916 1911 I9IZ 1913 1914 JAHRESENDE JUNI 30 1915 1902 1904 1906 1908 1910FISKALJAHR 1912 1914 1916 ARNOLD BAY STAATSBERICHT – SAISONALE EINKOMMENSSCHWANKUNGEN, GESAMTSYSTEM; VERLETZUNGEN IN BEZUG AUF DIE KILOMETERLEISTUNG; AUFZEICHNUNG VON SCHIENENERSATZLEISTUNGEN 14 ELECTRIC RAILWAY JOURNAL [VOL. XLVIII, No. 1 Newals von 144 Meile

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. Electric railway journal . 1911 1913 015 1903 BOS 1907 1909Year ARNOLD BAY STATE REPORT—RECORDOF TIE REPLACEMENTS O ■ac O O k J HJ V.f 1 ^^Tota/QpeExpensesTaxes nclua ing ■SI ^ r - 1 ■ I v (1 30 25 20 30 25 .- ?0 .2 15 Ml ^ b Stand1 9 ~~~~~ —Vaarauiy- persons Run Donn. July. Jan.1913 1914 1315 1916 1911 I9IZ 1913 1914 Year End ing June 30 1915 1902 1904 1906 1908 1910Fiscal Year 1912 1914 1916 ARNOLD BAY STATE REPORT—SEASONAL VARIATIONS IN INCOME, ENTIRE SYSTEM; INJURIES IN TERMS OF CAR MILEAGE; RECORD OF RAIL REPLACEMENTS 14 ELECTRIC RAILWAY JOURNAL [Vol. XLVIII, No. 1 newals of 144 miles of track in the past twelve years.About 150 miles of track should be rebuilt, includingboth rails and ties. The company has set up no de-preciation reserve. Mr. Arnold states that as long as the direct-currentplants of the company (serving the lines north of Bos-ton) are operated at their present efficiency it wouldappear that no decrease in cost of direct-current powerdelivered to the lines can be effected by abandoning themin favor of a more modern system when both operatingexpenses and additional interest charges are considered.The average operating cost of twelve direct-current sta-tions in 1914 was0.871 cents per kilo-watt-hour for a totalcapacity of 28, 930

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